MI HB5009

Adds reimbursement to municipalities for property tax revenue losses due to homestead exemptions under section 7b of the General Property Tax Act, effective for tax year 2020 and beyond.

Requires the Local Community Stabilization Authority to distribute 100% of municipalities' losses from these exemptions as part of priority distributions under subsection (4)(a)(ix).

Excludes local authorities that first levied a millage rate after 2013 from receiving the 10% supplemental distribution beginning in calendar year 2021.

Directs the authority to establish an operating fund for administrative purposes using authorized local community stabilization share revenue before making distributions to municipalities, effective after fiscal year 2018-2019.

Ties bill's effectiveness to the enactment of Senate Bill ____ or House Bill 5010 of the 101st Legislature.